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CSHI vs WDTE

Neos Enhanced Income Cash Alternative ETF

CSHIANYSE Arca

S&P 500 Weekly Distribution ETF

WDTEDNYSE Arca

Overlap

Expense ratio

CSHI −0.65pt a year

CSHI0.38%WDTE1.03%

Avg volume · 30D

CSHI 34.2×the volume

CSHI712KWDTE20.9K

3Y return · a year

WDTE +9.2pt

CSHI+5.3%WDTE+14.5%

CSHI vs WDTE Performance

Oct 31, 2025 – Oct 30, 2026

+4.8%CSHI+11.8%WDTE

Oct 31, 2025 to Oct 30, 2026. CSHI +4.8%. WDTE +11.8%. Use the arrow keys to read each point.−5%0%15%Oct 2025Apr 2026Oct 2026
Expense ratio
CSHI 0.38%, better
WDTE 1.03%
Fund size
CSHI $2.12B
WDTE $69M
1Y total return
CSHI +4.8%
WDTE +11.8%, better
Yield (12M)
CSHI 4.82%
WDTE 33.61%, better
Holdings
CSHI 20
WDTE 4
Avg volume (30D)
CSHI 712K sh, better
WDTE 20.9K sh
NAV per share
CSHI $49.67
WDTE $27.52
52W range

ETF.net Grade

CSHI: Cost 75, Risk 84, Mission 92, Tradability 98, Holdings 69, Durability 80. WDTE: Cost 4, Risk 38, Mission 72, Tradability 21, Holdings not scored, Durability 38.
Pillar letters and Scores for CSHI, WDTE, with each pillar’s weight
PillarCSHIWDTE
Cost30% weightA75HigherF4
Mission25% weightA92HigherA72
Risk15% weightA84HigherD38
Tradability15% weightA98HigherF21
Holdings10% weightB69Not scored
Durability5% weightA80HigherD38

Rank among S&P 500 Option Income funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. CSHI and WDTE are both graded against the same 51 S&P 500 Option Income funds, so their Grades compare head to head.

S&P 500 Option Income⁠

Category · 51 funds
See all 51 ›

CSHI ranks 1st and WDTE 48th of 51 funds in the S&P 500 Option Income Category.

  1. Rank 1ACSHINeos Enhanced Income Cash Alternative ETFScore 83
  2. Rank 2ABALIiShares U.S. Large Cap Premium Income Active ETFScore 81
  3. Rank 46DSDTYYieldMax S&P 500 0DTE Covered Call Strategy ETFScore 35
  4. Rank 48DWDTES&P 500 Weekly Distribution ETFScore 33
  5. Rank 49DYSPYGraniteShares YieldBOOST SPY ETFScore 25

Our read on each fund

ETF.net Research

CSHIANeos Enhanced Income Cash Alternative ETF

WDTEDS&P 500 Weekly Distribution ETF

In short

CSHI A T-bill sleeve with a side hustle. CSHI parks in 1-3 month Treasuries and sells S&P 500 index puts on top, paying monthly. In a peer group built on stocks plus options, it is the cash-first one.

WDTE Defiance built WDTE to cut a paycheck every week: it sells daily credit call spreads on the S&P 500 while holding long index exposure, and targets a 30% annualized distribution funded mainly by option premiums.

Stated mandate

CSHI The Fund seeks monthly income by investing in 1-3 month Treasury bills or related ETFs and using S&P 500 Index put options to generate additional income.

WDTE WDTE seeks current income and exposure to the performance of the S&P 500 Index. It is actively managed and uses daily credit call spreads with long index exposure to generate weekly cash distributions.

Why people hold it

  • CSHI Charges 0.38% a year, below the 0.60% median for its options-income cohort and cheaper than buy-write mainstays like XYLD (0.60%).
  • Two income engines: interest from 1-3 month Treasury bills, plus premium collected from selling S&P 500 index put options. Distributions land monthly.neosfunds.com
  • Running since 2022, now a multi-billion-dollar fund that trades actively, and one of the strongest implementations in its peer group.
  • WDTE Weekly payouts, not quarterly. Cash comes primarily from premiums collected selling daily S&P 500 call spreads, with distributions scheduled every week.defianceetfs.com
  • Spreads, not naked calls. Each sold call is paired with a higher-strike call it buys, so index moves above that upper strike still flow through to the fund.defianceetfs.com
  • The 30% annualized distribution target is written into the strategy, so the payout math the fund is aiming at is stated up front, not improvised.defianceetfs.com

Worth knowing

  • CSHI Selling index puts imports equity risk. A sharp S&P 500 drop can cost the options side money, so this moves less predictably than a plain Treasury bill fund.neosfunds.com
  • Income is variable by design, riding short-term Treasury rates and option premium levels rather than a fixed coupon.
  • Its cohort is mostly S&P 500 stock-plus-options funds, while CSHI's core is Treasuries. Side-by-side yield comparisons are not apples to apples.
  • WDTE At 1.03% a year it is one of the pricier ways to run this trade; the S&P 500 options-income median sits near 0.60%, and peers like IVVW and GPIX charge well under half.
  • A payout target that aggressive can return your own capital in lean premium weeks, and gains between the two strikes are handed to the option buyer.defianceetfs.com
  • Thinly traded next to the heavyweights of its category, and it sits in the bottom quartile of a crowded S&P 500 options-income peer group.

Full CSHI profile⁠

Full WDTE profile⁠

CSHI vs WDTE Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CSHI vs WDTE Cost

Overpaying WDTE vs CSHI

$11,467

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • CSHI 0.38%

    $7,706

  • WDTE 1.03%

    $19,173

$10,000
30 years

Cost over time

  • CSHI 0.38%
  • WDTE 1.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530WDTE $19,173CSHI $7,706

Year by year

YearCSHIWDTEOverpaying
10$688$1,814$1,126
20$2,658$6,807$4,149
30$7,706$19,173$11,467

Expense ratio

  • 0.38%CSHI, cheaper
  • 1.03%WDTE
  • Middle half of S&P 500 Option Income funds
  • Median 0.60%

CSHI 13th cheapest of 51 funds

WDTE 49th cheapest of 51 funds

CSHI vs WDTE Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
CSHI 4.82%
WDTE 33.61%, better
Payout (12M)
CSHI $2.39
WDTE $9.23
Last payment
CSHI $0.21
WDTE $0.16
Ex-dividend
CSHI Oct 14, 2026
WDTE Oct 29, 2026
Paid on
CSHI Oct 16, 2026
WDTE Oct 30, 2026
Frequency
CSHI Monthly
WDTE Weekly

Distribution history

Per share, 2026, same scale for both

CSHIMonthly · 10 paymentsAll CSHI payments⁠
One bar per payment. 10 payments in 2026 YTD. Jan 14, 2026 $0.20; Feb 11, 2026 $0.20; Mar 11, 2026 $0.19; Apr 15, 2026 $0.19; May 13, 2026 $0.19; Jun 10, 2026 $0.19; Jul 15, 2026 $0.19; Aug 12, 2026 $0.21; Sep 9, 2026 $0.21; Oct 14, 2026 $0.21. Use the arrow keys to read each point.$0$0.202026YTD
WDTEWeekly · 43 paymentsAll WDTE payments⁠
One bar per payment. 43 payments in 2026 YTD. Jan 8, 2026 $0.18; Jan 15, 2026 $0.18; Jan 22, 2026 $0.18; Jan 29, 2026 $0.18; Feb 5, 2026 $0.18; Feb 12, 2026 $0.18; Feb 19, 2026 $0.18; Feb 26, 2026 $0.18; Mar 5, 2026 $0.17; Mar 12, 2026 $0.17; Mar 19, 2026 $0.17; Mar 26, 2026 $0.17; Apr 2, 2026 $0.16; Apr 9, 2026 $0.17; Apr 16, 2026 $0.17; Apr 23, 2026 $0.17; Apr 30, 2026 $0.18; May 7, 2026 $0.18; May 14, 2026 $0.18; May 21, 2026 $0.18; May 28, 2026 $0.18; Jun 4, 2026 $0.18; Jun 11, 2026 $0.17; Jun 18, 2026 $0.18; Jun 25, 2026 $0.17; Jul 2, 2026 $0.17; Jul 9, 2026 $0.17; Jul 16, 2026 $0.17; Jul 23, 2026 $0.17; Jul 30, 2026 $0.17; Aug 6, 2026 $0.17; Aug 13, 2026 $0.17; Aug 20, 2026 $0.17; Aug 27, 2026 $0.17; Sep 3, 2026 $0.17; Sep 10, 2026 $0.17; Sep 17, 2026 $0.17; Sep 24, 2026 $0.17; Oct 1, 2026 $0.17; Oct 8, 2026 $0.17; Oct 15, 2026 $0.17; Oct 22, 2026 $0.16; Oct 29, 2026 $0.16. Use the arrow keys to read each point.$0$0.202026YTD

CSHI vs WDTE Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
CSHI 0.3%, betterWDTE 10.4%
Return per unit of riskSharpe ratio, 3 years
CSHI 2.04, betterWDTE 0.93
Worst fallMax drawdown, 5 years
CSHI −1.7%since Aug 2022WDTE −15.8%since Sep 2023
Market sensitivityBeta, 5 years
CSHI 0.01WDTE 0.74

CSHI and WDTE in the news

All news⁠

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